Top Story Compliance Related

The Office of Foreign Assets Control has added two individuals to its list of Specially Designated Nationals under its Central African Republic (CAR) sanctions. The office also removed a Zimbabwe sanctions listing. For additional information, see our OFAC Update.

The FDIC has announced it will host an Economic Inclusion Summit on Wednesday, April 26, in Arlington, Virginia, to discuss "Strategies to Bring Consumers into the Financial Mainstream." The summit will bring together representatives from banks, bank trade associations, non-profit organizations, national, state, and local government agencies, and the public.

OCC Bulletin 2017-14 announces the issuance of the “National Bank Director Waivers” booklet of the Comptroller’s Licensing Manual. The revised booklet replaces the “Director Waivers” booklet issued in March 2008, and provides updated guidance on required filings when a national bank's board of directors requests waivers of the citizenship and residency requirements for an individual or a group of individuals. These director requirements do not apply to directors of federal savings associations.

The Federal Reserve Board has released its Supplement 51-January 2017 update to the Bank Holding Company Supervision Manual. The update can be viewed in its entirety or by section.

A Salvadoran, José Adán Salazar Umaña, a/k/a "Chepe Diablo," previously designated as a specially designated global terrorist, has been removed from OFAC's SDN list. See our OFAC Update for identity details.

OFAC has announced the name of an individual has been added, the names of two individuals have been removed, and changes have been made to an existing entry on the SDN List. See our OFAC Update for the details.

The FDIC has released the April 2017 list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). Of the 47 banks listed, three received a rating of Outstanding, 43 received a Satisfactory rating, and one bank was rated Substantial Non-compliance.

The Bureau has posted the prepared opening statement of CFPB Director Cordray before the House Committee on Financial Services. Director Cordray reported on the activities of the CFPB during 2016 and over the last five years.

FinCEN has issued Advisory FIN-2017-A002 to financial institutions regarding the Financial Action Task Force's (FATF) updated list of jurisdictions with strategic anti-money laundering/counter-terrorist financing (AML/CFT) deficiencies. The changes reported by FATF may affect U.S. financial institutions' obligations and risk-based approaches regarding relevant jurisdictions.

Bloomberg Markets has published the text of a letter of resignation by Richmond Federal Reserve Bank President Jeffrey Lacker. Dr. Lacker, who had earlier stated his intent to retire this year, said that his resignation was immediate, after admitting to an unintentional October 2012 breach of two Federal Open Market Committee confidentiality policies. The Richmond Federal Reserve Bank and the Federal Reserve Board of Governors posted brief statements following Dr. Lacker's resignation.